Question: You have decided that a practical goal with a new retirement account is a value of $500,000 in thirty years. You can afford to make

You have decided that a practical goal with a new retirement account is a value of $500,000 in thirty years. You can afford to make payments of $4,000 at the end of each of the next thirty years. What compounded annual rate of return must you earn to reach your goal?

Group of answer choices

11%

7.2%

9.4%

9.0%

8.5%

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